Public Management

Central Bank of Angola to release new banknotes from July 30

Central Bank of Angola to release new banknotes from July 30
Tuesday, 07 July 2020 18:11

The central bank of Angola will release new banknotes starting July 30, the Chinese news agency Xinhua reported quoting José de Lima Massano (pictured) the bank’s governor.

According to the official, the new issues will concern notes of 200, 500, 1,000, 2,000, and 5,000 kwanzas. They will be made of polymer, a recyclable material that makes the new banknotes more environmentally friendly, the governor said.

This decision comes at a difficult time for the Angolan economy. While the coronavirus crisis and the fall in oil prices have plummeted the government's revenue prospects, the Economist Intelligence Unit (EIU) expects the national currency to continue to lose value against the major international currencies, the US Dollar and Euro, depreciating this year to 536.8 kwanzas for one dollar. 

While the timetable for the withdrawal of the old notes has not yet been announced, the official said the new notes will coexist with the current 2012 series notes until 31 December 2021. It should be noted that the 10,000 kwanza notes are not expected to enter into circulation “unless it proves necessary.”

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
FirstRand, SA's largest bank by market cap, confirms plans to enter Kenya. CBK's ten-fold capital hike leaves 12 of 39 banks short, spurring M&A...
• AFG Holding completes acquisition of Société Générale Guinée as part of regional growth plans.• The deal keeps all existing customer services and staff...
VFD Group plans ₦50.67B rights issue at ₦10/share. Shareholders offered two new shares for every three held. Funds to boost capital, expand...
• Sub-Saharan Africa hosts 52 % of the world’s mobile-money accounts, yet only 7 % of adults there borrowed via these services in 2024.• GSMA...
Most Read
01

Nearly 400,000 mango seedlings distributed to farmers nationwide from June to August 2025. Pr...

Burkina Faso Launches Plan to Renew and Expand Mango Plantations
02

Starlink lost 2,000 Kenyan users in Q1 2025, dropping to 17,066, as local ISPs grew 8%. High...

Starlink's Kenyan Setback: 2,000 Users Lost in Q1 2025 Amid Rising Local Competition
03

• New system will link banks, fintechs, and mobile operators in a single platform• Real-time transfe...

BCEAO to Roll Out New Platform for 24/7 Instant Transfers in West Africa
04

President Bola Tinubu signs NIIRA 2025, replacing the 2003 insurance law. The law raises capi...

Nigeria enacts 2025 insurance reform law to boost sector growth
05

Abdul Samad Rabiu is now the richest investor on NGX, with ₦15.23 Trillion in BUA Foods and Cement...

Nigeria's Wealth Shift: Abdul Samad Rabiu Overtakes Aliko Dangote as the Richest Man on NGX
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.